Our portfolio

NewAge has built a portfolio of high quality oil and gas assets in five countries in sub-Saharan Africa.

Since our inception in 2007, NewAge has made eleven commercial discoveries – five oil fields and six gas fields

Our first production began in December 2014 and we are currently producing from the Aje field, offshore Nigeria, and two fields in Congo-Brazzaville, namely, Nene Marine and Litchendjili.

NewAge operates the majority of its assets. Where we are not the operator, we are an active participant engaging with the operator throughout the development process to deliver outcomes that optimise value.

Aje (OML113, Nigeria)

Balance and risk mitigation

Our portfolio is balanced through a mix of geographical and geological diversification with projects at different stages of their life-cycle.

Pipeline of key developments

  • Litchendjili (Marine XII, Congo)
  • Nene (Marine XII, Congo)
  • Etinde (Cameroon)
  • Aje (OML113, Nigeria)

Current and near-term production

  • First production in 2014
  • 4 developments sanctioned
  • Three fields currently on production at 10,000 boepd net

Reserves and Resources

2P/2C Reserves and Resources 1,050 million boe

50%

Risked Prospective Resources 1,100 million boe

50%

Company estimates as of Q2, 2018